Mar
30
2010
The lights have officially gone out on Cheyenne Mountain Entertainment development has halted, on the long awaited and seriously overdue Stargate Worlds and their latest release Stargate Resistance has been sold to a new studio.
The company itself has debts, liabilities and obligations in the region of $16 Million, $1.1 million being in payroll alone spanning back over the past 12 months.
To help cover the spiralling debt mountain the company has sold its recently released title Stargate Resistance to new start up ‘Fresh Studio’, fans can be rest assured that Stargate Resistance isn’t dead, with the game only having received an update days ago.
When the company filed for bankruptcy protection last month it blamed the decision to do so on its former chairman and CEO, alleging shady dealings that sent payments to a shell company he owns and reneged on the terms and payments of a stock purchase. At the time, the company indicated that the bankruptcy filing could have been pulled back. But if a court has come in to manage and/or sell off the company’s property, it looks like game over
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Feb
21
2010
It’s official the development Studio behind the long-awaited and overdue Stargate Worlds and the recently released Stargate Resistance has filed for Chapter 11 Bankruptcy in the United States of America.
This recent announcement and declaration throws into doubt the release of Stargate Worlds, with the game still several months away before completion it looks increasingly likely this will become yet another defunct Stargate games release. However fans do not need to fear the development studio FireSky has announced it will continue to support Stargate Resistance.
Here is the official Statement from the studio:
Hi guys, in light of recent events this is the official statement from FireSky:
Cheyenne Mountain’s corporate structure has undergone some dramatic changes in the last few weeks, and that has resulted in various actions such as the filing for Chapter 11. Certain parties believed that was the right thing to do, other parties do not and this is still being evaluated and may be rescinded. Even if the bankruptcy should go through, however, Chapter 11 simply allows a company to restructure its debt to a manageable plan approved by the courts. It does not absolve a company of debt, and it does not shut it down or otherwise affect its daily operations.
This will all be sorted out in the legal and proper manner, and all of us on the development side of things hope it’s done as quickly as possible.
That said, our entire staff is in-house working on upgrades and expansions for Stargate Resistance, and we continue to be motivated and excited by the response we’ve received from our customers.
See you on the battlefield!
FireSky
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Jan
29
2010
FireSky the company behind the long awaited Stargate Worlds has today announced they plan on releasing Stargate Resistance on the 10th February 2010.
Stargate Resistance has been in the planing and development stages since July 2008, the development team have released the following statement:
On FEBRUARY 10TH, 2010 FireSky will be releasing the first Stargate PC shooter ever to come to market! “I want to personally thank everyone for their enthusiasm and support. It’s incredibly exciting to be releasing our first game as a studio, especially with such a great license,” said Shane Hensley, President of the Studio. In this fast-paced 3rd person shooter, gamers will have the chance to be either Stargate Command or the System Lords as they use the Stargate to travel and battle for galactic dominance.
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Nov
17
2009
Cheyenne Mountain, the developer behind the long-awaited Stargate MMO Stargate Worlds, has released a letter to fans thanking them for hanging during the recent turmoil.
The game has been in trouble for quite some time due to insufficient financial backing. Last month it was announced that the game was to be put on hold until more cash was found, but things finally seem to be on the up according to this post from CME.
It’s great to be back” the writer states, “We know you expect nothing less than the AAA content in Stargate Worlds our development team is working hard to give you along with some additional exciting news we will be revealing very soon! We want to thank everyone for their continued support and passion for Stargate Worlds and we can’t wait to show you more of what we’ve been cooking up over here.
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Aug
05
2009
Shane Hensley the director of new business development for FireSky has confirmed today that a significant portion of the needed funds to continue development on Stargate Worlds have been raised.
Featured below is Shane Hensleys Official Announcement
Hi all–quick update. A lot of people are on leave right now (including myself) but the guys showing the game to investors and upper management are all there trying daily to get us re-started.
My understanding is a significant portion of the funds have been raised, but it’s one of those situations where everyone involved (us and the investors) want to make sure there’s enough to cover all our needs. To be clear, let’s say we need X million. If someone puts in $100,000 right now, that’s great and much appreciated, but it doesn’t get the game shipped and that investor would lose his money if the rest isn’t raised in the long-term.
Needless to say, every single investor does substantial due diligence due to the delay of the game and negative press we’ve received. A significant number *have* pledged money on completion of their research into our books, however, so I find that very encouraging.
Otherwise, it’s an ongoing process and there just won’t be much news until then, but the day we return to full operations I’ll let everyone know. In the meantime, thanks very much for your support and well-wishes.
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